ISLAMABAD: Saudi Arabia has launched the King Salman bin Abdulaziz Iftar and Dates Distribution Program in Pakistan for the month of Ramadan, the Pakistani religious affairs ministry said on Monday, with the program aiming to support tens of thousands of deserving people.
Fasting during Ramadan is one of the five pillars of Islam, wherein Muslims abstain from food and drink from sunrise till sunset for a month. The Islamic lunar month will begin in March.
This is followed by the sighting of the new moon and is marked by Eid Al-Fitr, a religious holiday and celebration that is observed by Muslims across the world.
The iftar and date distribution program was inaugurated by the Pakistan’s Religious Affairs Minister Chaudhry Salik Hussain and Saudi Ambassador Nawaf bin Saeed Al-Malki.
“The aim of this program is to care for poor and needy families, widows, and orphans, to provide them with opportunities for joy and happiness, to meet their needs, and to effectively assist in alleviating the hardships of impoverished and extremely needy families by providing essential food items,” the Saudi ambassador was quoted as saying by the Pakistani ministry.
“Under this program, which symbolizes friendship and brotherhood from the Saudi government and people, 20 tons of dates will be distributed to 40,000 deserving individuals, while 30,000 individuals will benefit from the Iftar program.”
The program for fasting individuals and the distribution of dates is part of the initiatives directed by King Salman for implementation in Pakistan and several other countries, according to the Saudi ambassador. It will be held throughout the month of Ramadan in all provinces of Pakistan.
On the occasion, Religious Affairs Minister Hussain thanked the Kingdom for its continuous assistance to those in need in Pakistan.
“These gifts symbolize the bond of brotherhood and goodwill between the people of Saudi Arabia, its government, its wise leadership, and the people of Pakistan,” he said.
Pakistan and Saudi Arabia enjoy strong trade, defense and brotherly relations. The Kingdom is home to over 2.7 million Pakistani expatriates, serving as the top destination for remittances for the cash-strapped South Asian country.
Last week, Saudi Arabia gifted Pakistan 100 tons of dates ahead of the holy month of Ramadan. The consignment was handed over by Saudi Arabia’s Ambassador Nawaf bin Said Al-Maliki along with Abdullah Al-Baqami, director of the King Salman Humanitarian Aid & Relief Center (KSrelief) at a ceremony held at the Saudi embassy in Islamabad.

ISLAMABAD: A mission from the International Monetary Fund (IMF) arrived in Islamabad today, Monday, for the first review of a $7 billion bailout program, according to a Pakistani official and widespread reports in local media.

Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer as part of an economic recovery plan. 

Pakistan’s economy had stabilized and now needed to focus on export-led growth, the finance minister said last week as he confirmed the IMF delegation’s visit from March 3-14.

Pakistan’s consumer price index (CPI) inflation rate, maintaining a downward trend on Monday, hit a more than 9-year low at 1.51 percent year-on-year in February.

A Pakistani economic adviser told Arab News, requesting anonymity, that a nine-member mission led by Nathan Porter had landed in Pakistan to assess the country’s economic performance to determine the release of a $1.1 billion tranche over the following three weeks.

Top Pakistani news channel, ARY News, reported that the IMF was demanding action against tax evasion in Pakistan’s real estate sector.

“During the talks, the IMF pushed for action against those misdeclaring property values,” ARY reported, saying the government had assured the international lender it would activate the Real Estate Regulatory Authority.

“Strict penalties, including imprisonment and fines, will be imposed on individuals and agents who falsely declare property values … As per sources, failing to register could result in a fine of up to Rs500,000,” ARY added. 

The Real Estate Regulatory Authority could be granted the power to impose up to three years of imprisonment and revoke the licenses of agents and fine them for providing false information:

“Misdeclaration in property transfers could lead to fines ranging from Rs500,000 to Rs 1 million,” ARY said. 

Pakistan’s Dawn newspaper said the government “remains optimistic about a successful conclusion to the talks.”

“The performance review, in principle, is based on the first half of the current fiscal year — July 1 to Dec 31, 2024 — and while some shortcomings could be observed at that time, all those missing links have now been covered,” Dawn reported, quoting a Pakistani official.

The IMF team usually spends around two weeks reviewing fiscal reforms and policy.

Last week, a separate IMF team visited Pakistan to discuss around $1 billion in climate financing on top of the EFF. That disbursement will take place under the IMF’s Resilience and Sustainability Trust, created in 2022 to provide long-term concessional cash for climate-related spending, such as adaptation and transitioning to cleaner energy.